Brazil has launched its regulated fixed-odds betting market, with 66 companies authorized to operate. According to the Government News Agency the initiative has generated R$ 2.01 billion in grants to the Federal Government.
On Wednesday (December 31), the Official Gazette of the Union (DOU) published the companies authorized to operate nationally in the fixed-odds betting market. In total, 15 ordinances grant definitive authorizations for 14 companies. One company received multiple authorization ordinances due to the number of brands it intends to operate: each authorization can cover up to three brands, necessitating a new grant to operate another set of up to three brands.
Another ordinance (Portaria SPA/MF No. 2,104) presents 52 companies that obtained temporary authorizations to operate in the fixed-odds betting market. These authorizations were granted to companies that met the requirements, including the payment of a R$ 30 million grant, but that have solvable pending issues.
Companies with temporary authorizations have a period of 30 days, extendable for another 30 (if they provide the necessary justifications outlined in the ordinance), to submit the required technical certificates, such as those for the security of gaming systems and servers. If they fail to comply, their authorizations may be suspended for up to 90 days, and ongoing non-compliance will result in the definitive revocation of their authorization, preventing them from operating.
Starting yesterday, all companies authorized to operate nationally must comply with all regulations, including operating exclusively on websites with the “.bet.br” domain. For a transition period, “.com.br” domains will still be operational but cannot offer bets to customers. Financial institutions and payment processors will be prohibited from conducting transactions intended for fixed-odds betting with unauthorized entities. Those unauthorized companies that continue with active domains offering fixed-odds betting services will be considered illegal and will be blocked.
The companies on the initial list are those that submitted their applications by August 20, 2024. Applications made after this date remain under review and, according to current regulations, must be processed within 150 days from the initial documentation submission. Companies that requested authorization and did not meet the requirements faced rejection, against which they can file administrative appeals, while companies that missed deadlines have had their processes archived.
The Secretary of Prizes and Betting of the Ministry of Finance, Regis Dudena said: “The country is taking a fundamental step to address potential issues associated with the sector. The conclusion of the regulation and the finalization of the first round of authorizations place fixed-odds betting offered nationally under state control. We are entering 2025 with strict and clear rules, as well as mechanisms to enforce compliance and hold operators accountable. The implementation of these rules is the result of a tremendous effort by the staff of the Ministry of Finance, under the leadership of Minister Haddad and President Lula.”
Brazil has launched its regulated fixed-odds betting market, with 66 companies authorized to operate. According to the Government News Agency the initiative has generated R$ 2.01 billion in grants to the Federal Government. On Wednesday (December 31), the Official Gazette of the Union (DOU) published the companies authorized to operate nationally in the fixed-odds betting…